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Councils get money back from collapsed Icelandic banks

Two councils that held millions of pounds with a collapsed Icelandic bank have had some of the money repaid.

Nottingham City council had eleven million pounds deposited with the Icelandic bank Glitnir.

Yesterday just under nine milllion pounds of that was repaid.

Solihull Council has also had eight hundred thousand pounds repaid.

Both councils are still owed around 19 million pounds by several Icelandic banks.

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